Final HUDC estate Braddell View up for privatisation
Published on Jan 28, 2014 5:13 PM
The last of Singapore's 18 HUDC estates, Braddell View, has been designated for privatisation, said the Ministry of National Development on Tuesday.
But before the privatisation works can begin, land lease issues must be sorted out. The estate, comprising 918 flats and two shops, was developed in two phases on two separate land leases, with different expiry dates.
To harmonise these leases - such that they have the same expiry date - the land lease of the older land parcel will be "topped-up" to that of the newer one. A land premium must thus be paid by every flat owner in the estate.
Residents will vote on whether to privatise the estate. If the required mandate of at least 75 per cent in favour of the move is obtained, the amount of top-up premium will be determined by the Chief Valuer Office and the Housing Board will apply to the Singapore Land Authority for the top-up.
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